Happiest Minds Technologies Bangalore based IT service provider company’s initial public offer (IPO) to raise up to Rs 702 crore will open on September 7. The price band of the issue has been fixed at Rs 165-166 per share.
Check here Happiest Minds IPO details of date, IPO offer price, lot size, subscription, Happiest Minds Technologies IPO allotment and listings date, grey market price and other details like the company’s background and more.
About Happiest Minds
“Born Digital. Born Agile” Happiest Minds is a leading next generation digital transformation, infrastructure, security, and product engineering provider headquartered in Bengaluru.
Happiest Minds offer solutions across the spectrum of various digital technologies such as Robotic Process Automation (RPA), Software-Defined Networking/Network Function Virtualization (SDN/NFV), Big Data and advanced analytics, Internet of Things (IoT), cloud, Business Process Management (BPM) and security.
Happiest Minds IPO Details
|IPO Date||Sep 7, 2020 – Sep 9, 2020|
|Issue Type||Book Built Issue IPO|
|Issue Size||42,290,091 Eq Shares of ₹2|
(aggregating up to ₹702.02 Cr)
|Fresh Issue||6,626,506 Eq Shares of ₹2|
(aggregating up to ₹110.00 Cr)
|Offer for Sale||35,663,585 Eq Shares of ₹2|
(aggregating up to ₹592.02 Cr)
|Face Value of||₹2 per equity share|
|IPO Price||Rs. 165 to Rs. 166/equity share|
|Market Lot||90 Shares|
|Minimum Amount||Rs. 14940|
|Allotment Date||September 14, 2020|
|Listing on||BSE, NSE|
Happiest Minds IPO Subscribe 151 Times
Happiest Minds Technologies IPO was Subscribeed 151 times and drew a whopping Rs 1.06 lakh crore investor money.
Happiest Minds Rs 702 crore ipo issue was subscribed 151 times, as per data available on NSE. In the retail segment, which constituted only 10 per cent of total shares on offer, the response was overwhelming as it saw 100 per cent subscription in the first two hours of opening for bids. This portion was eventually subscribed 71 times.
Happiest Minds IPO Founder
Happiest Minds Technologies Limited is an Indian Smallcap IT services company founded in 2011 by Ashok Soota (one of the co-founders of Mindtree Limited).
Happiest Minds IPO Date
Happiest Minds Technologies IPO (initial public offering) subscription opens on September 7 and closes on September 9.
Happiest Minds IPO Price Band
Happiest Minds IPO issue price band at Rs 165 to Rs 166 per equity share.
Happiest Minds IPO Lot Size
Lot size of the Happiest Minds Minds Technologies IPO investors can bid for a minimum of 90 equity shares and in multiples of 90 equity shares thereafter.
Happiest Minds IPO Minimum lot of 90 shares of Rs 14,940and Maximum investment of 13 lots of 1170 stocks at Rs.194,220 at The face value of the equity share is Rs 2 each.
Happiest Minds IPO Issue Size
The Rs 702 crore initial public offer (IPO) of Happiest Minds. Soota would offload 8,414,223 shares while CMDB II (JP Morgan Asset Management) 27,249,362 shares in the offer for sale (OFS). This would amount to Rs 592 crore and The company would also raise Rs 110 crore by offering fresh shares.
Happiest Minds IPO Objects
The company would also raise Rs 110 crore by offering fresh shares, which would be utilised to meet long-term working capital requirement and general corporate purposes.
Happiest Minds IPO GMP (Grey Market Premium)
Happiest Minds IPO grey market premium on the issue has risen by Rs 115-125 a share over the IPO price band of Rs 165-166 a share.
Happiest Minds IPO Listed on NSE & BSE
Equity shares after the completion of a public issue will be listed on the National Stock Exchange and on BSE Limited.
Happiest Minds IPO BRLM
The book running lead managers (BRLM) appointed for the public issue are ICICI Securities and Nomura Financial Advisory and Securities India, while KFin Technologies is the registrar to the IPO.
Happiest Minds IPO Allotment Status Date and Listing
Tentatively the company will finalise the basis of allotment on September 14, while the refunds or unblocking of funds from ASBA accounts which did not get any share in allotment will take place on September 15.
Shares will be credited to accounts of eligible investors on September 15 and the trading in shares will commence from September 17.